1999 First Quarter Activities Report
First Quarter Highlights
The following results were achieved compared with the 1998 first quarter:
- Production volume increased by 19.5% to 12.0 million boe
- Sales volume increased by 17.0% to 11.0 million boe
- Sales revenue increased by 13.6% to $181.8 million
Comment by Mr Ross Adler, Managing Director:
Production, sales and revenue all grew strongly during the quarter. The 13.6% increase in sales revenue was particularly pleasing considering that crude oil prices received were 16.3% lower in Australian dollar terms than in the corresponding quarter of 1998.